The Wall Street Journal’s latest forecasting survey shows most economists oppose another round of stimulus (43 against, 8 for), despite forecasts for lingering double-digit unemployment until at least June 2010. WSJ’s Phil Izzo and Kelsey Hubbard discuss.
7/9/2009
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"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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July 10th, 2009 at 11:15 am
Not to be overlooked, Rosenberg, Roubini, and Shiller say more stimulus.